A chart shows the impressive growth trend for Douyu's net profit. [Photo provided to chinadaily.com.cn]

Douyu, a Wuhan-based e-sports live streaming platform in China, reported a year-on-year growth of 741.7 percent in net profit in the first quarter of this year, hitting a record.

The company is a resident of the East Lake High-tech Development Zone -- also known as Optics Valley of China -- located in Wuhan, capital city of Central China's Hubei province.

On May 26, Douyu issued its financial report for the first quarter of 2020. In Q1, its total revenue hit 2.28 billion yuan ($317.8 million), a year-on-year increase of 53 percent.

Q1 gross profit came in at 486 million yuan, a year-on-year increase of 139.2 percent, while net profit of the platform reached 297 million yuan, up 741.7 percent and hitting a record.

A spokesman said that during the COVID-19 epidemic, the platform has driven  growth of its mobile users by providing more high-quality content, inviting promising live streaming anchors and encouraging the anchors to increase the length of their live streams.

In the first quarter of 2020, the average monthly active users (MAU) for its mobile terminals reached 56.6 million, up 15.3 percent year-on-year.

In addition, thanks to its engagement in high-quality contents in e-sports competitions and consistent capitalizing of e-sports contents, its live streaming revenue reached over 2.11 billion yuan during the period, up 56 percent year-on-year.